A bill to amend the Internal Revenue Code of 1954 to provide refunds in the case of certain uses of tread rubber.

Summary

Revises the excise tax provisions of the Internal Revenue Code to allow a tax credit or refund in the case of tread rubber for which a tax was paid and which is: (1) destroyed, scrapped, wasted, or rendered useless in the recapping or retreading process; (2) used in the recapping or retreading of tires the sale of which is later adjusted pursuant to a warranty or guaranty, in which case the overpayment shall be in proportion to the adjustment in the sales price; or (3) used in the recapping or retreading of a tire, if such tire is by any person exported, used or sold for use as supplies for vessels or aircraft, sold to a State or local government, or sold to a nonprofit educational organization for its exclusive use. Provides that a tax payment on tread rubber used in further manufacturing shall be considered an overpayment if the rubber is sold, in connection with any other article produced, to a State or local government, nonprofit educational organization or used for supplies for vessels or aircraft.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 30 January 1975

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 30 January 1975

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 January 1975

   Introduced

   Introduced in House

   Source: IntroReferral

4. 1 July 1976

   Reported

   Reported to House from the Committee on Ways and Means with amendment, H. Rept. 94-1334.

   Source: Committee

5. 1 July 1976

   Reported

   Reported to House from the Committee on Ways and Means with amendment, H. Rept. 94-1334.

   Source: Committee

6. 24 August 1976

   Passed

   Measure passed House, amended.

   Source: Floor

7. 24 August 1976

   Passed

   Passed/agreed to in House: Measure passed House, amended.

   Source: Floor

8. 24 August 1976

   Floor

   Measure called up under motion to suspend rules and pass in House.

   Source: Floor

9. 25 August 1976

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

10. 29 September 1976

    Reported

    Reported to Senate from the Committee on Finance with amendments, S. Rept. 94-1348.

    Source: Committee

11. 29 September 1976

    Reported

    Reported to Senate from the Committee on Finance with amendments, S. Rept. 94-1348.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Reported to Senate with amendment(s)

  summary · EN · 29 September 1976

  Open at official source

• Introduced in House

  summary · EN · 30 January 1975

  Open at official source

Sponsors

• Rep. Schneebeli, Herman T. [R-PA-17] · R · Sponsor
• Rep. Corman, James C. [D-CA-21] · D · Cosponsor
• · ssfi00 · Standing
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.